Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate The paper examines the role of credibility in the conduct of exchange rate ...

This paper examines the recent evolution of exchange rate policies in the developing world. It looks at why so many countries have made a transition from fixed or "pegged" exchange rates to "managed ...

In many countries, many exchange rates were out of equilibrium in many moments between 1947 and 1973—due to the excessive rigidity of fixed rates—but one cannot deny that this has also been ...

SchrØder, M. (2013): “Should Developing Countries Undervalue Their Currencies?,” Journal of Development Economics, 105, 140-151. Shambaugh, J. C. (2004): “The Effect of Fixed Exchange Rates on ...

This decision is a pragmatic step, regardless of whether it was motivated by the necessity of meeting IMF program conditions ...

Prudent monetary policy: they often have fixed exchange rates or are pegged to the U.S ... Financial hubs: some countries have cities that are financial hubs, like Hong Kong, London, or New ...

The Jamaica Agreement abolished gold as a reserve asset and formalised the floating exchange rate system that survives to this day. Countries around the world have since chosen their own method of ...

An increase in a country’s interest rates ... The U.K In 1990, the U.K. joined the EU's Exchange Rate Mechanism (ERM), which allowed its currency to be fixed against other European currencies ...

Indonesia's central bank held policy rates steady for a third consecutive review on Wednesday, as expected, aiming to maintain rupiah exchange rate stability amid global trade tensions.